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Faculty of Economics, University of Split
New and old dual economy
This paper aims to provide a possible explanation for the strange reoccurrence of the dual economy in developed countries. The dual economy is understood as consisting mainly of two sectors that differ in productivity, salaries, and related characteristics. It was hypothesized there is a relationship between secular stagnation, the slowdown in productivity growth, stagnation in wages, and the dual economy’s reoccurrence. In explaining this relationship, technological progress and the process of...
Download 2022 Milenko Popović , Ivan Radević
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